Mexican Peanut Prices Decreased 38.26% YoY in Guadalajara Due to Increased Production

The wholesale price of peanuts in Guadalajara, Mexico, has experienced a significant 38.26% YoY decrease, dropping from USD 2.87 per kilogram in Nov-22 to USD 1.77/kg in Nov-23. This decline is attributed to the increased production in neighboring states, including Sinaloa, Chihuahua, Guanajuato, Guerrero, and Chiapas, which have increased their market presence. While prices remained steady earlier in 2023, fluctuations occurred in Jul-23, reaching a peak of USD 3.15/kg in Sep-23, followed by a decrease to the observed levels in Nov-23.